So much money down to get a reasonable monthly payment, isn’t it? This is bad right? Any brokers in the area able to help? I’m in Milwaukee and this is from West Allis. Hoping to hear back from Kenosha soon, but I’m not too hopeful.
In your area, this vehicle is eligible for 15.5k in lease cash. That means the discount being offered is 3.5k, which is 6.3%.
That seems like a strong discount, but I agree with you that the payment amount seems high, especially with 3k down.
How does that payment & DAS amount compare with what brokers are offering in other regions?
Go to the Wiki here and learn how to calculate a lease payment…don’t have the dealer do if for you…you should already have a target payment/DAS in mind to offer them.
Fair point. I had asked for 260/mo and just the fees at signing (I saw a similar lease signing on Reddit). No capital reduction, but the sales manager said there’s no way that works. Of course I found out later that the Reddit example had a 17500 tradein…but they wouldn’t even budge on the residual value. I’ll keep learning though. Also going to see if a broker like AutoNinja has something to work with.
If you do your own math (not hard and a simple spreadsheet can be built in minutes) you will know how it all works. RV is set by the bank and no dealer can change it. You want to negotiate discount off MSRP, make sure you get all incentives you qualify for along with base MF. What happens when you get into finance and review the actual contract or maybe add something? Knowing your numbers and how they calc is power and being in control…not led around.
PS, dealers LOVE leases for one reason…most people have ZERO clue how payments calculate with DAS…so many places for dealers to hide stuff!
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My guess is they have jacked up the MF. Your sheet also does not include acquisition fee and probably taxes and registration fees.
Milwaukee and Chicago are very difficult areas to get good deals in. It’s possible but much harder than other areas.
There is a bonkers private transfer in Wisconsin for a 2024 Equinox EV 3LT for $150/mo for 14 months. I would jump on that in a heartbeat if I were you.
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Yes, I was just about to ask @gohawks23 something similar…is the MF negotiable? When I put in different money factors with MSRP and “Sale Price” the same, the MF really changes the payment. Also, any idea what the “Selling Price” really is? I tried looking in the wiki forum but I got lost in some nice rabbit holes. In the deal sheet they gave me, they just have total savings and rebates lumped together. I know 7500 is the EV cash rebate, but they didn’t earmark the rest…
MF is negotiable to a point. There is a base MF that it cannot go below but the dealer can mark it up. RV is not negotiable. I have had deals where the MF was marked up but the discount was big enough that I didn’t care how we got to my number…as long as we got there.
Again, I would 100% jump on the Equinox deal I mentioned above and it gives you time to do more research.
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I’m also in Wisconsin and am familiar with the absolute trash dealers who are unwilling to make good deals. My recommendation would be to build the deal you qualify for and send it nationally; with the savings you’ll get from that, you can easily cover the transport (or the cost of a plane ticket and charging on the way home 
).
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Yes, MF is negotiable as most dealers like to mark up. Selling price is the discounted price you have negotiated off MSRP (pre-incentives).
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Expand your search radius. I’m just west of Milwaukee and when I was looking for a Lyriq lease this last December, no dealer could touch what I ended up getting: ‘24 Lyriq Lux 2 AWD loaner, $341/mo, $1k DAS (includes TTL). This was cheaper than what I was being quoted for both Equinox EVs and Blazer EVs around MKE. Chicago dealers were a little better than MKE, but I ended up picking it up in NE Indiana.
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This is an interesting discussion and helpful to set expectations. What do you attribute the MKE/Chicago difficulty to?
I live between those two cities, and will be chasing for my first leasehack in Dec.
Welcome your thoughts as well @willin58 - thanks both!
I was just perusing Indiana, Michigan and Missouri. Haven’t been able to get in contact for financing or anything, but even the “dealer discount” of $24 on their websites is…yikes. Is demand just off the charts that they don’t have to offer anything I guess?
I’ve seen those ridiculous tiny discounts on many dealer websites in Seattle area. Instantly off-putting to me. But I’ve also seen feedback from people that have worked with the various dealerships and have gotten good/great discounts. So don’t completely count those folks out.
I assume it’s a ploy they use to get you in the door and/or have you hand over personal info in their “unlock your price” tool.
I was told by the finance manager of a Hyundai dealer that they actually aren’t allowed to list more than a $24 “dealer discount” on websites for new cars. They’ll do a lot more than that, but he claimed that there was some restriction on that. This came about because I was calling from far out of state on an XRT they had listed with the website showing a $7524 “dealer discount.” It was an error, and he was asking me where I saw it because he didn’t want to get in trouble lol.
That makes no sense. The $7524 was probably the $7500 tax incentive plus the $24 discount from MSRP.
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Right, like I said, it was an error on their part.
I wouldn’t bother using their websites other than to use the contact form to send them your offer and ask them to match it. Most won’t, but all you need is one…
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